Toys “R” Us got nicked in a nasty Christmas fight with Amazon — and now the bleeding has begun.

The cash-strapped toy chain is poised to lay off as many as 200 employees at its headquarters in Wayne, NJ, as it looks to conserve cash, sources told The Post.

The layoffs, which are expected to affect workers throughout the corporate offices, will reduce those ranks by upwards of 10 percent, insiders said.

The company will begin handing out pink slips to workers this week, a source said. The layoffs are expected to spread to the company’s units overseas as well, according to a source briefed on the company’s plans.

Toys “R” Us has lately hired consultants including AlixPartners and Booz Allen to find more ways to pinch pennies, according to people close to the situation.

A Toys “R” Us spokeswoman declined to comment.

“They’re slimming down so they have a chance to stay in the race,” according to one source.

Toys “R” Us is fighting for its life as kids increasingly turn to smartphones and tablet devices instead of traditional toys for entertainment.

The retailer’s sales tumbled 4 percent in the fourth quarter, the result of a bruising Christmas retail season marked by deep discounts.

To make matters worse, Toys “R” Us’ owners — a trio of private-equity firms that took the company private in 2005 for $6.6 billion — have been grappling unsuccessfully with a management vacuum at the retailer since former CEO Gerald Storch left more than a year ago.

Chairman and CEO Antonio Urcelay, who previously headed the company’s European operations, is spending significant amounts of his time in Europe, sources said.

That’s despite troubles in the US and the consternation of some executives at home, these people said.

“He’s from Spain and he hates New Jersey,” according to one source.

On the positive side, sales improved in January and February, the retailer said last week. Toys “R” Us is still generating strong cash flow, and insiders say recent bankruptcy speculation is misplaced.

While some of the company’s long-term debt is currently trading as low as 75 cents on the dollar, it has no major debt coming due until 2016.

In December, Vornado, a giant real estate developer, took a $162 million writedown on its 32 percent Toys “R” Us stake, leaving it at just $80 million.

Reassuring toymakers that company executives have its finances in hand appears to be a top priority. Rumors have swirled among suppliers about the financial health of Toys “R” Us since Christmas.

“They called me up and said, ‘We just want you to know we’re not going bankrupt,’ ” an exec at one toy manufacturer told The Post. “Believe me, I’d never had a call like that before in my entire career.”